Consumers have 'mixed feelings' about economy: Economist

Peterson notes that"consumers have mixed feelings right now." On the one hand, they are content with how the markets are holding up, but on the other hand, prices remain excessively high for essential items like food. She adds that consumers are alsoDespite these challenges, Peterson observes that consumers still spend on experiences,"but they're economizing on other types of activities.

So on the one hand, the basics are expensive and also big ticket items like homes and cars, um and even things like cell phones cost a lot more money than what they're used to. Now, we don't think the U the US is going into recession, but consumers are concerned that things are gonna slow down.Um, employment options may not be out there and certainly their incomes are gonna remain strained by high inflation and also elevated interest rates.

And where they're ultimately saying, you know what, we're gonna push back on that, we'll, we'll trade down or we'll decide not to purchase that for a little bit.And we think that's going to continue to persist.

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